By Chris Prentice NEW YORK (Reuters) – Federal prosecutors in Washington are looking into short seller activity around the recent volatility in U.S. bank shares sparked by the failure of three regional lenders since March, a source familiar with the matter said. Short sellers, traders that profit by betting shares will fall, have come under…
By Alun John and Ankur Banerjee LONDON/SINGAPORE (Reuters) – Investors are getting more bang for their buck this year by buying European companies with a focus on China than buying Chinese companies themselves, a sign of the unevenness of China’s pandemic recovery and geopolitical concerns. Late last year, China dismantled its strict zero-COVID policy, helping…
By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose nearly 6% on Wednesday as the company’s positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $700 million to its…
By Lisa Pauline Mattackal (Reuters) – Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists. About 46% of the banks surveyed by the Federal Reserve reported tightening lending standards during…
(Reuters) -Lithium companies Allkem Ltd and Livent Corp said on Wednesday they will combine in an all-stock $10.6 billion deal to create the world’s third-largest producer of the metal used to make electric vehicle batteries. Shares of Livent were up about 5.4% to $25.53 in late morning trading on the New York Stock Exchange. Allkem’s…
(Reuters) -An investment consortium, comprising of Elliott Investment Management, Patient Square Capital and Veritas Capital, has agreed to take Syneos Health Inc private for $4.46 billion, the contract research firm said on Wednesday. Shares of Syneos rose 8.7% to $41.8 in early trade. The consortium will pay about $43 per share in cash, which represents…
CAIRO (Reuters) -Egypt’s annual urban consumer inflation in April slowed to 30.6% from 32.7% in March, data from the state statistics agency CAPMAS showed on Wednesday, lower than analysts had expected. Month-on-month, urban inflation slowed to 1.7% from 2.7% in March and 6.5% in February. Inflation had steadily crept up over the last year after…
By Howard Schneider WASHINGTON (Reuters) – It wasn’t the March 10 collapse of Silicon Valley Bank that prompted Carissa Rodeheaver, head of a community bank tucked in the mountains of western Maryland, to rethink strategy. That process started last year when Federal Reserve interest rate hikes and a less certain economic environment caused Rodeheaver, the…
NEW YORK (Reuters) – U.S. consumer prices increased in April on higher gasoline costs and rents, while underlying inflation remained strong as used motor vehicle prices rebounded, potentially ensuring that the Federal Reserve keeps interest rates elevated for a while. The Consumer Price Index (CPI) rose 0.4% last month after gaining 0.1% in March, the…
(Reuters) – The New York Times Co missed estimates for quarterly revenue on Wednesday as a turbulent economy sapped digital subscriber growth and forced businesses to cut back on advertising spending, sending its shares tumbling 6%. High inflation and rising interest rates have prompted readers to rethink their paid subscriptions, hampering the publisher’s strategy of…
